Sy siblings, Manny Villar, Enrique Razon lead 50 richest in Philippines

By Jennifer T. Santos

MAKATI CITY – The siblings of the late taipan Henry Sy Sr. who control the SM Group continued to be the richest in the Philippines even as their net worth dropped by $4 billion to $12.6 billion, marking the biggest decline in dollar terms.

The Sy’s SM group operates the SM Malls, the biggest mall chain in the country, the biggest bank in terms of resources, the BDO Universal Bank, department stores, supermarkets, drug stores and is into property development building condominiums and operating hotels and other businesses.

There are six siblings of Henry Sy Sr. They are Teresita Sy-Coson, who is chair of BDO Unibank and co-vice chair of SM Investments; Elizabeth Sy, head of SM Hotels and Conventions; Henry Sy, Jr., chairman of SM Prime and co-vice chairman of SM Investments; Hans Sy, chair of SM Prime’s executive committee and China Banking Corp.; Herbert Sy, director of SM Prime; and Harley Sy, exective director of SM Investments, director of China Banking, and adviser to BDO Unibank.

Mall and housing tycoon Manuel “Manny” Villar Jr., once on top of the list, maintained his second spot with a fortune of $7.8 billion after adding $1.1 billion in the past year as the biggest dollar gainer, according to the influential Forbes Magazine.

Villar, whose wife Cynthia and senator as well as his son Mark, and daughter Camilla a congresswoman representing Las Pinas City, had served as Senate President and Speaker of the House of the Representatives and once mounted a presidential campaign but lost the race.

Villar is known for the Vista Land and Landscape, the largest homebuilders in the country, Camella Homes, Brea Homes, Star Malls, All Day Marts, All Home stores, and Golden Haven memorial parks. He is also into other businesses like townships, casino, condominiums, water distribution, health care and hospitals,

Third in the list is ports magnate Enrique Razon Jr., who saw a slight decline in his net worth to $5.6 billion. Razon is doubling down on gaming hubs and casino resorts and renewable energy with plans to build the world’s largest solar farm in the Philippines.

The new entrants in this year’s list include the Po family at the 16th spot after inheriting the food empire of Ricardo Po Sr. of Century Pacific Food Inc. — who passed away in October 2021. Century Pacific is into tuna, sardines, milk, meat and other canned products.

Sylvia Wenceslao also entered this year’s list with a net worth of $340 million as she took over as chairman of D.M Wenceslao & Associates, following the death of her husband Delfin Wenceslao last September. The company is into infrastructures, roads, bridges, construction and other development projects such as Aseana City, a 204-hectare property in the Manila Bay reclamation area.

The Aboitiz family is on the fifth spot with a collective fortune of $2.9 billion, which includes holdings of the broader family.

Record first-quarter earnings of $200 million at engineering conglomerate DMCI Holdings also lifted the fortune of Isidro Consunji and his siblings by 47 per cent to $2.65 billion and into sixth spot

Forbes’ downgraded the minimum net worth for this year’s list to $185 million from $200 million in the past year.

The complete list follows:

1. Sy siblings – $12.6 billion
2. Manuel Villar – $7.8 billion
3. Enrique Razon Jr. – $5.6 billion
4. Lance Gokongwei & siblings – $3.1 billion
5. Aboitiz family – $2.9 billion
6. Isidro Consunji & siblings – $2.65 billion
7. Tony Tan Caktiong & family – $2.6 billion
8. Jaime Zobel de Ayala & family – $2.55 billion
9. Ramon Ang – $2.45 billion
10. Andrew Tan – $2.4 billion
11. Lucio Tan – $2 billion
12. Ty siblings – $1.9 billion
13. Dennis Anthony & Maria Grace Uy – $1.75 billion
14. Lucio & Susan Co – $1.7 billion
15. Hartono Kweefanus & family – $1.5 billion
16. Po family – $1.2 billion
17. William Belo & family – $1.15 billion
18. Vivian Que Azcona & siblings – $1.1 billion
19. Mercedes Gotianun & family – $1.09 billion
20. Betty Ang – $1.05 billion
21. Soledad Oppen-Cojuangco & family – $985 million
22. Inigo Zobel -$930 million
23. Roberto Ongpin -$830 million
24. Dennis Uy – $810 million
25. Campos siblings – $780 million
26. Dean Lao & family – $710 million
27. Henry Soesanto – $625 million
28. Luis Yu Jr. – $545 million
29. Jacinto Ng – $490 million
30. Eusebio Tanco – $450 million
31. Yap family – $440 million
32. Manuel Zamora Jr. – $430 million
33. Robert Coyiuto Jr. – $420 million
34. Menardo Jimenez – $380 million
35. Mariano Tan Jr. – $375 million
36. Gilberto Duavit Jr. – $360 million
37. Felipe Gozon – $355 million
38. Carlos Chan – $350 million
39. Sylvia C. Wenceslao – $340 million
40. Edgar Sia II – $330 million
41. Keng Sun and Peter Mar & family – $310 million
42. Alfredo Yao – $280 million
43. Jose Antonio – $270 million
44. Mariano Martinez Jr. – $250 million
45. Oscar Lopez – $245 million
46. Tomas Alcantara – $240 million
47. Wilfred Steven Uytengsu Jr. – $230 million
48. Frederick Dy – $220 million
49. Philip Ang – $190 million
50. Benedicto & Teresita Yujuico – $185 million